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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: Secret_Agent_Man who wrote (3147)	3/27/1999 12:31:00 PM
From: Andrew H	Read Replies (1) \| Respond to of 30916

Thoughts on the float: The float obviously becomes a major consideration in terms of supply and demand on any major news. The last earnings report mentioned in the neighborhood of 36M SOS. This is the fully diluted count and I assume that at least 2M of these shares (probably more) are being reserved for option holders. That leaves 34M. The institutional ownership varies, but let's say it is roughly 60%. That comes to about 20M. Jonas and family trusts own roughly 12M shares and other insiders probably own another 1M at least. Adding that all up, we get 33M shares out of roughly 34M. Certainly some of the shares held by institutions could find their way into the float, but probably not a large amount at this point in time since most people have placed their bets. Given the above, I would be surprised if the actual float was any great than say 3-6M. Now add the short position of about 2.2-2.3M shares. The only possible conclusion is that a very large percentage of the very limited ACTUAL float is short. And that any big Internet news will not only cause a SEVERE short squeeze but will also result in a severe shortage of available retail shares, this forcing the price of IDTC considerably higher.